Press Release February 15, 2019

Arvelle Therapeutics and SK Biopharmaceuticals to Develop and Commercialize Cenobamate in Europe in $530 Million Licensing Agreement

The Life Sciences team advised Arvelle Therapeutics GmbH in its licensing agreement with SK Biopharmaceuticals under which Arvelle will have exclusive rights to develop and commercialize cenobamate in Europe. Under the agreement, SK Biopharmaceuticals will receive an upfront payment of $100 million and is eligible to receive up to $430 million upon achievement of certain regulatory and commercial milestones in addition to royalties on net sales of cenobamate generated in Europe. SK Biopharmaceuticals will have an option to obtain a significant equity stake in Arvelle and will also retain commercial rights for all non-European territories.

Cenobamate, a novel, small molecule investigational antiepileptic drug for the potential treatment of partial-onset seizures in adult patients, was discovered and developed by SK Biopharmaceuticals from inception through to the acceptance of a New Drug Application by the U.S. Food and Drug Administration. 

Arvelle Therapeutics is a newly created biopharmaceutical company receiving one of the largest initial financing commitments for a European-focused biopharmaceutical company from a global syndicate of investors that include NovaQuest, LSP, BRV Capital Management, Andera Partners and H.I.G. BioHealth Partners. Arvelle’s mission is to bring innovative solutions to patients suffering from central nervous system disorders.

The Goodwin team was led by partner Karen Spindler, and included partners Mitchell Bloom, Robert Puopolo and Richard Matheny, counsel Todd Hahn and associate Nancy Urizar.

For additional details on the agreement, please read the press release.